Tesla is the electric-vehicle company that Elon Musk joined as an early major investor in 2004.
Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. Elon Musk led the company’s Series A investment round in 2004 and became chairman of its board. He later became chief executive officer in 2008, after the company’s early development period.
Tesla’s first production vehicle was the Roadster, introduced in 2008. It used lithium-ion battery cells and demonstrated that an electric sports car could offer substantial range. Tesla later expanded with the Model S, Model X, Model 3, and Model Y, while also selling energy-storage products.
Tesla became one of the world’s most valuable automakers by market capitalization, at times exceeding the combined value of several traditional carmakers. Market capitalization measures investor expectations as well as current earnings, so it can differ sharply from production volume.